As customers in today's world, we all have a wide choice of goods and services before us. The latest models of laptops, mobile phones, cameras, televisions, etc. are at our disposal. produced by the world's leading manufacturer. You can see a huge number of brands for other products ranging from shirts to laptops to cars. The availability of such a wide range of preferential products on the markets is a relatively recent phenomenon. You wouldn't have come across such a broad type of commodity in Indian markets ten years ago. In the space of a year our market has changed. So, how did these transformations take place, what are the factors that brought about these changes and how such changes are affecting the lives of human beings. All this is happening because of globalization. Globalization can be defined as the process of rapid interconnection or integration between countries. Due to globalization, a large number of products, services and technologies are exchanged between countries. Multinational corporations play a very important role in globalization. Technology has played a key role in increasing the globalization process. The improvement in transportation technology has helped the company to transport its products at cheaper rates with faster delivery of products over long distances. As part of the improvement of information and communication technology, communication work has been made easy and fast, due to which different countries can interact with each other easily and are closely connected with each other. The countries had been trading with each other for many years. But globalization has increased in the market in the last decade because organizations like the Monetary Fund, World Bank and World Trade Organization have changed their policies and are running on the grounds of the developed countries like the United States and other European countries. These organizations and developed countries have also forced developing and developing countries to adopt their policies and open their local markets for world-traded goods and products. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get Original Essay India opened up to globalization in 1991 when the Indian Finance Minister was Dr. Manmohan Singh and in that year globalization was fully accepted and implemented in India. He was the main person who formulated the proposal of economic liberalization. He was the main person who formulated the proposal of economic liberalization. Since then, the state has moved steadily to emerge as one of the supreme economic leaders in the world. India has benefited a lot from the impact of globalization but due to globalization some people and some sectors of the Indian economy have also suffered a lot. After accepting globalization, growth increases to 7% compared to the growth rate of 4% in 35 years after independence. Poverty reduction has also occurred in the last 15 years, but the poverty level is still too high. Entrepreneurship has also increased in the country with many new entrepreneurs entering the corporate sector. New technology and product have come to the Indian market due to globalization which has made jobs more productive. Employment has also increased in India because many multinational companies are setting up their company in India due to the availability of cheap labor in the Indian market and easy availability of technical personnel in the Indian market. After the approval of the zoning lawspecial economic sectors, in 2005, new jobs became available quite effectively and later export processing zones were also established which employ thousands of people. Both these acts are attracting multinationals to set up manufacturing plants or companies in India which will help increase employment in India. With the increase in the factories or manufacturing companies of the multinational companies, the business of the local sellers and shopkeepers will also increase because for the construction of the plant the company should buy the raw material from the local seller and the local labor should also find work and for manufacturing the products the goods will be transported from the country to interior which will increase the sales of shopkeepers and businessmen in India. People who work for foreign organizations are well paid and rewarded, which also gives the message to domestic organizations to reward their employees more. The MNCs have also brought advanced knowledge and skills which are also motivating the national organization to advance their knowledge and skills and create the change in the Indian structure. Due to the increase in workers' income, the purchasing power of individuals has also increased and the standard of living has also improved. India also exports raw materials to different countries and in the year 2018 India exported the valuable goods worth 322.3 billion dollars and in 2017 India exported the valuable goods worth 295 $.8 billion, resulting in a total increase of 9% year over year. About 18.4% of gross domestic product (GDP) comes from the export of goods and services, which shows that globalization is good for companies that supply items such as gems, minerals, clothing, iron, organic chemicals, products pharmaceuticals, electrical machinery, knitted clothing, machinery including computers etc. as these are the major items exported from India to different countries. Iron and steel are the fastest growing exports. The export of these items helps in the economic growth of the country and with the increase in the supply of these items the company's revenue also increases and more manpower will be required to complete the jobs which will help increase employability. Due to globalization, Indian medical tourism has also emerged as a developing sector in India, which is estimated to be worth more than $3 billion. People from underdeveloped countries that have fewer medical facilities come to India for check-ups or operations. There are also many Indian multinationals providing goods and services in different countries. Companies like Airtel provide telecom services to 20 different countries, TCS operates in 46 different countries, Asian Paints is Asia's third largest paint company, Zomato provides operations to 23 different countries. Looking from the Indian consumer's point of view, more products and goods are available in the Indian market due to globalization which offers many choices to the Indian consumer to select their product according to their needs and price range. Due to the availability of a large number of products from different competitors, consumers have a wide variety of choices and get the product at a cheaper price and the quality of the product is also good. The consumer also gets products from different cultures. Globalization has also created problems for many people and companies. The multinational clothing industry buys the garment from local sellers and after affixing the label sells their product at a high price, so there is competition among the local sellers for.